Corcept Therapeutics (NASDAQ:CORT) Raised to “Strong-Buy” at StockNews.com

Corcept Therapeutics (NASDAQ:CORT) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Thursday.

CORT has been the topic of several other research reports. Truist Financial lifted their price target on shares of Corcept Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a research note on Tuesday. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Corcept Therapeutics has a consensus rating of “Buy” and a consensus target price of $39.30.

Corcept Therapeutics Trading Down 2.3 %

Shares of CORT stock opened at $22.48 on Thursday. The company’s fifty day simple moving average is $23.89 and its 200-day simple moving average is $25.42. Corcept Therapeutics has a 52 week low of $20.84 and a 52 week high of $34.28. The company has a market cap of $2.34 billion, a PE ratio of 23.66 and a beta of 0.48.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Thursday, February 15th. The biotechnology company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Corcept Therapeutics had a net margin of 21.86% and a return on equity of 21.98%. The business had revenue of $135.41 million for the quarter, compared to the consensus estimate of $129.27 million. During the same quarter last year, the firm posted $0.14 EPS. The business’s revenue for the quarter was up 31.4% compared to the same quarter last year. Equities research analysts expect that Corcept Therapeutics will post 0.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other Corcept Therapeutics news, CAO Joseph Douglas Lyon sold 1,000 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $26.00, for a total transaction of $26,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,774 shares of the company’s stock, valued at approximately $176,124. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $22.00, for a total value of $48,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Joseph Douglas Lyon sold 1,000 shares of Corcept Therapeutics stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.00, for a total transaction of $26,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,774 shares of the company’s stock, valued at $176,124. The disclosure for this sale can be found here. Insiders sold a total of 83,783 shares of company stock valued at $2,118,996 in the last ninety days. Corporate insiders own 18.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Milestone Asset Management LLC acquired a new position in shares of Corcept Therapeutics in the 1st quarter valued at about $882,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Corcept Therapeutics in the 1st quarter valued at about $1,262,000. Norden Group LLC acquired a new position in shares of Corcept Therapeutics in the 1st quarter valued at about $50,081,000. Allspring Global Investments Holdings LLC boosted its stake in Corcept Therapeutics by 85.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 126,807 shares of the biotechnology company’s stock valued at $3,194,000 after purchasing an additional 58,468 shares during the period. Finally, AlphaMark Advisors LLC acquired a new position in Corcept Therapeutics during the 1st quarter valued at about $236,000. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.